RCR Wireless News, in reporting Nextel Partners’ latest financial results, is also reporting that Nextel Partners is withdrawing their lawsuit against Nextel.
From the story:
“Nextel Partners also reported it has withdrawn its lawsuit against Nextel Communications Inc. while it works with an arbitration panel to settle disagreements between the two carriers.”
The financial results are noteworthy, because they are very good, according to analysts:
“With the final valuations on the company for its sale to [Nextel] likely prior to 2006, this guidance looks more like negotiations, but combined with outstanding Q2 results, could push up valuations marginally,” noted SG Cowen & Co. telecommunications industry analyst Tom Watts.
It seems likely that Nextel Partners sees itself in a strengthened position in its negotiations with Nextel thanks to these results.
Whatever comes of this, the lawsuit blocking the merger is on hold… for now.